Latest news with #SunriseEnergyMetals
News.com.au
11-07-2025
- Business
- News.com.au
Resources Top 5: High fives all round and a gold medal to Falcon Metals
An intersection of 1.2m at 543g/t gold was returned in the first wedge hole at Blue Moon prospect Manganese explorer Black Canyon is on the radar for investors Investors have warmed to Sunrise Energy Metals in capital raisings and share prices Your standout small cap resources stocks for Friday, July 11, 2025 Falcon Metals (ASX:FAL) It's high fives all round for the Resources Top 5 with all entries hitting new highs of at least 12 months and a golden performance by Falcon Metals, which more than doubled to 40.5c. An intersection of 1.2m at 543g/t gold in the first wedge hole at the Blue Moon prospect, directly north of the 22Moz Bendigo Goldfield in central Victoria, is behind the FAL surge. This hole intersected a laminated quartz vein containing visible gold with the 1.2m result comprising 0.6m at 557 g/t Au from 544.2m and 0.6m at 529 g/t Au from 544.8m. Due to the amount of visible gold observed, assays from this zone were expedited. Blue Moon Prospect is the northerly down-plunge extension of the Garden Gully anticline, a conceptual target developed from a 3D reconstruction of the historical Bendigo workings, historical reports and field mapping. Observations from Bendigo, Ballarat and Fosterville suggest that there is a strong plunge component to the high-grade mineralisation in Central Victoria which had not been adequately tested at the Blue Moon target area. 'This outstanding result from the first wedge hole at Blue Moon is highly encouraging and it is exciting to see the abundance of visible gold present,' Falcon Metals' managing director Tim Markwell said. 'The early success from the first phase of drilling shows the untapped potential of the Bendigo Goldfield as it continues northwards through Falcon's ground and we look forward to seeing the results as we get closer to the fold hinge where Bendigo-style saddle reefs could occur.' The first wedge hole remains in progress with a planned depth of ~670m and further results from remaining samples from the parent hole and first wedge hole are expected in July. Planning is underway for additional wedge holes targeting zones closer to the fold hinge where wider zones of mineralisation are historically known to occur in the Bendigo area. Black Canyon (ASX:BCA) Manganese explorer Black Canyon is on the radar for investors due to positive results from its projects in WA's Pilbara region and particularly the higher grade discovery at Wandana. Although manganese is a key commodity feeding steel and, to a lesser extent, battery supply chains, and has been subject to large price fluctuations, Black Canyon and other players with potential new supply sources appear well-placed with a number of existing mines nearing the end of their life cycles and impending export bans in Africa. In a Stockhead article, Lowell Resources Fund chief investment officer John Forwood said Groote-Eylandt Mining Company (GEMCO), which is 60:40 owned by South32 and Anglo American, and Woodie Woodie, the long-standing Pilbara operation now run by Chinese-controlled ConsMin, were 'getting on'. He said in Gabon, which exports a 45.5% lump product representing 23% of the seaborne trade, the government had proposed a plan to phase out exports in a bid to force producers to upscale domestic downstream processing plants. That means any significant new high-grade manganese discovery could be treated warmly indeed by customers and investors. Black Canyon (ASX:BCA) is one such company with its large low-grade orebody at Balfour consisting of 314Mt at 10.4% Mn – WA's largest by tonnage. However, it is the higher grade discovery at Wandanya that has fund managers like Forwood interested and has seen the company's shares increase appreciably this year. BCA hit a two-year high of 24c on July 11, a rise of 33.33% on the previous close. Forwood said Wandanya had similarities to Woodie Woodie, which is 80km to the north but also some key differences, including the high strip ratio of around 20:1 Woodie Woodie mine operates at. 'Whereas Wandanya in the grade could be similar, the strip ratio is almost definitely going to be very low. It could be less than five to one, so mining costs should be pretty attractive,' he told Stockhead. Grades from drilling at Wandanya are between 29-31% Mn, well above those in the Balfour field. While a scoping study estimated Balfour could be upgraded to a Mn concentrate of 35%, similar to South African mines like Tshipi, early testwork on material from Wandanya has upgraded the material to a premium 48-50%. Sunrise Energy Metals (ASX:SRL) With critical mineral scandium the primary focus of current activities centred on the Syerston project in central NSW, Sunrise Energy Metals is attracting plenty of attention. Not only did investors strongly support a recent oversubscribed SPP raising $1.5 million after a $6m placement, the company's share price has been heading north, reaching a two-year high of $1.38, an increase of 30.81% on the July 10 close. Since March 19, SRL has risen from 25c. The combined $7.5m raised will primarily be used to accelerate work on the Syerston Scandium Project Feasibility Study, which will review current capital and operating cost estimates for the project through to production of scandium oxide. 'This project has the potential to become the world's first source of mineable, high-grade scandium at a time of high uncertainty as to the supply of this increasingly valuable critical mineral due to ongoing global trade tensions,' SRL managing director Sam Riggall said. SRL is one to watch given the presence of Ivanhoe Mines doyen and mining billionaire Robert Friedland as its non-executive co-chair. Meteoric Resources (ASX:MEI) After becoming part of a collaboration in June with MTM Critical Metals (ASX:MTM) to work together on downstream rare earth processing in Brazil, Meteoric Resources (ASX:MEI) hit a 12-month high of 15c, a lift of 20% on its previous close. This will involve the use of MTM's flash joule heating technology on mixed rare earth carbonate (MREC) from Meteoric's Caldeira project. 'This technology has the potential to unlock an innovative, refining pathway for our Caldeira MREC product by bringing it closer to the end consumers' needs and creating an alternative supply chain for magnetic rare earth elements, Meteoric's MD and CEO Stuart Gale said. 'This collaboration fits squarely within our strategy to pursue scalable downstream solutions that enhance the value and flexibility of our world-class, scalable rare earth supply.' With the Caldeira Project's 1.5Bt at 2359ppm total rare earth oxides …. the collaboration could help deliver one of the first Western operations producing separated magnet rare earth elements. NewPeak Metals (ASX:NPM) The resumption of trading by Lakes Blue Energy (ASX:LKO) on July 4 and securing conditional approval and funding to drill its Wombat Gas Field in Victoria has provided a fillip for NewPeak Metals (ASX:NPM) which reached 3.4c, a 12-month peak and a 61.91% increase on its previous close. It has also seen NewPeak strengthen its balance sheet by $1.14m after divesting 1,649,383 Lakes shares on July 4 and 1,426,472 on July 8. This will help fund upcoming exploration. As Lakes' largest shareholder, NewPeak continues to be bullish on the prospectivity of the Wombat Gas Field in the Gippsland region, which holds a certified 2C recoverable resource of 329Bcf with a combined 719PJs across the Wombat, Trifon and Gangell fields. This positions Lakes well to support new domestic gas supply amid growing concerns over East Coast gas shortfalls. NewPeak has no immediate intention to further reduce its 11.89% holding in LKO.
News.com.au
01-07-2025
- Business
- News.com.au
Resources Top 5: Sunrise Energy Metals fills scandium war chest after oversubscribed SPP
Robert Friedland's Sunrise chockablock in applications for a $1.5m SPP, taking raise to $7.5m EWC has taken a number of key steps toward securing the funding critical to its future development and growth Uvre will this week complete the purchase of five prospective New Zealand gold assets Your standout small cap resources stocks for Tuesday, July 1, 2025 Sunrise Energy Metals (ASX:SRL) A strongly supported share purchase plan (SPP) has resulted in Sunrise Energy Metals raising $1.5 million, taking the recent capital raising total to $7.5m and filling the company's war chest to advance its Syerston scandium project in NSW. In fact, the SPP was so well supported that applications were received for approximately $4m with the company scaling back applications so that eligible applicants will receive 37.52% of the SPP shares and options sought. The SPP provided eligible shareholders with the opportunity to subscribe for up to $5,000 of SPP shares at 30c per share together with options on a 1-for-1 basis exercisable at 40c and expiring on May 31, 2027. These were the same price and terms as those offered in the placement which raised $6m. Sunrise Energy Metals (ASX:SRL) shares reached $1.195, an increase of 48.44% on the June 30 close, and closed at $1.175. The combined $7.5m raised under the placement and SPP will primarily be used to accelerate work on the Syerston Scandium Project Feasibility Study, which will review the current capital and operating cost estimates for the project through to production of scandium oxide from the Syerston mine site in central NSW. A $1bn stock during a cobalt boom in 2017, SRL is trading at only $130m today. But it's worth watching given the presence of Ivanhoe Mines doyen and mining billionaire Robert Friedland as its non-executive co-chair. While cobalt and nickel were once its focus, scandium is now the metal on the mind of SRL investors. 'On behalf of the board, I would like to thank our shareholders for their participation in the SPP and acknowledge their ongoing support for the company,' Sunrise's managing director Sam Riggall said. 'Whilst the company is delighted with the strong support shown by its shareholders, it is also conscious that the targeted size of the offer has meant that shareholders will not receive their full application amount. 'The company looks forward to applying the total funds raised towards advancing its Syerston Scandium Project located in central New South Wales. 'This project has the potential to become the world's first source of mineable, high-grade scandium at a time of high uncertainty as to the supply of this increasingly valuable critical mineral due to ongoing global trade tensions.' Energy World Corporation (ASX:EWC) After taking a number of key steps toward securing funding critical to its future development and growth, Energy World Corporation (ASX:EWC) surged to a three-year high of 7.5c, an increase of 257.2% on the June 30 close, before closing at 4.8c. These include a change to its capital structure, subject to shareholder approval at an upcoming general meeting, and a number of changes to its board of directors. EWC has a strategy to deliver critical energy solutions for the Philippines and Indonesia and has entered into a subscription agreement with Energy World International (EWI) and Slipform Engineering Group, in relation to the US$432 million plus accrued interest owed under a Debt Repayment and Investment Agreement (DRIA). If approved by shareholders, this will see the conversion of shares in exchange for the full repayment of all debt under the DRIA. Conversion shares will be issued at 88c, about 44x the current 30-day VWAP of A$0.02, and the estimated conversion amount at completion of US$440.5m would result in around 782.2m shares being issued, which is ~25% of current EWC shares on issue. This would see the combined EWI/Slipform shareholding increase from 41% to approximately 53%. The lenders have been instrumental in supporting EWC with the development of its power and LNG related projects, and continue to support the company. Along with the change in capital structure, a number of board changes have been made, including the resignation of Brian Allen as managing director after 24 years. He is also stepping down as chair. Alan Jowell has been appointed interim chair effective July 1, 2025, until a permanent chair can be appointed and Edward McCartin has been appointed CEO, also with effect on July 1. Allen will continue to work for the company for up to six months and remain on the board as a director. McCartin brings a vast amount of experience in the LNG and power industries. In the last 25 years, he has been involved in the financing, construction and operation of power stations in the Philippines, Indonesia and the USA, as well as the development of power stations in Chile, Iceland, India, Kenya, Peru, Thailand, China, Vietnam and the USA. 'It has been a long journey for the company and its shareholders, and while we still have a way to go before our assets are commercialised, the past nine months have brought transformational changes in strategy and direction,' Jowell said. 'We believe these changes have set the company on a path toward securing the funding critical to its future development and growth.' 'LNG continues to play a vital role in strengthening South East Asia's power and energy markets,' new CEO McCartin said. 'Clean natural gas offers a dependable base load power source - available day and night, in all weather - making it the best option for many nations. 'It not only supports industrial growth and economic development but also provides grid stability for renewable technologies, which are often intermittent. 'With abundant global supply and growing demand, I believe EWC is well positioned to lead in its markets and to help drive sustainable economic progress in Indonesia and the Philippines.' l Uvre (ASX:UVA) Uvre will this week complete the purchase of five prospective New Zealand gold assets, a move welcomed by investors with shares trading up to 13.5c, a new 12-month high and a 35% increase on the previous close, before closing at 12c. The company has met final conditions precedent and is set to acquire the Waitekauri, Lottin Point, Roaring Meg, Oturehua and Invincible projects, which cover about 332km2. This follows confirmation from New Zealand Petroleum & Minerals (NZPAM) stating that the company's application under Section 41AE of the Crown Minerals Act 1991 for change of control has been granted. The flagship NZ project is Waitekauri, which is 8km from OceanaGold's 10Moz Waihi gold mine on the North Island, and the three main exploration prospects sit next to four different 1Moz deposits. Waitekauri historically produced gold and silver at an average grade of 48g/t and last week, Uvre reported rock chips up to 18.4g/t, paving the way for its first drilling program. With much of the project being underexplored, Uvre (ASX:UVA) will seek bonanza-grade gold and silver – and potentially a multi-million-ounce resource. Exploration is ramping up following the rock chip assays from Waitekauri with encouraging sampling results also returned from another brownfield project, Oturehua. As part of the acquisition, highly successful mining executives Norm Seckold and Peter Nightingale will be appointed to the Uvre board as non-executive directors. At a general meeting on June 27, shareholders approved the issue of the consideration shares, meaning Uvre can proceed to settlement of the transaction including board changes. Shareholders also approved Uvre's $4m equity raising at 8c per share by lead manager Bell Potter, with settlement scheduled to occur on Wednesday, July 2, 2025. Asian Battery Metals (ASX:AZ9) As the size of the Oval copper-nickel-PGE discovery continues to grow, Asian Battery Metals believes it may have a camp-scale system on its hands at the Yambat project in Mongolia and investors share the confidence with shares up 22.75% to a daily high of 2.7c, before closing at 2.6c. Final phase 3 assays from 16 holes totalling 2938.9m have confirmed multiple, high-grade copper-nickel massive sulphide zones at Oval. Hole OVD036 extended the high-grade zone 130m down-dip of the previous massive sulphide intercept in OVD025 at North Oval after returning 8.7m grading 2.44% copper, 1.52% nickel, 1.4g/t E3 (platinum, palladium and gold) and 0.06% cobalt from 112.8m, including 2m at 3.72% Cu and 3.82% Ni from 113.3m Drilling also confirmed the northwest extension of high-grade massive sulphides intersected in holes OVD021 and OVD027 at the Oval with OVD040 returning 6.9m at 3.49% Cu, 3.61% Ni, 0.76g/t E3 and 0.14% Co from 93.5m within 70.2m at 0.65% Cu, 0.65% Ni, 0.18g/t E3 and 0.03% Co from 49m. Adding further interest, results from OVD038 and OVD039 suggest that semi-continuous mineralisation is present over a strike of more than 800m including the North Oval and Oval gabbroic intrusions. 'These results continue to demonstrate the strength of the mineralised system at Yambat,' Asian Battery Metals (ASX:AZ9) managing director Gan-Ochir Zunduisuren said. 'High-grade zones at Oval and North Oval are now confirmed to extend both at depth and along strike.' Magmatic Resources (ASX:MAG) Stage 1 of the purchase by Magmatic Resources of the Weebo gold project in the strongly gold mineralised southern Yandal Greenstone Belt of WA has been completed with the company preparing for its maiden exploration, including aircore drilling. The project, which totals 136km2 near Leinster, is in the vicinity of five gold projects – Vault Minerals' (ASX:VAU) Darlot mine, Gold Fields' Agnew-Lawlers project, Bellevue Gold's (ASX:BGL) namesake mine and Northern Star Resources' (ASX:NST) Bronzewing and Thunderbox mines. Stage 1 covers five exploration licences and a prospecting licence while stage 2 covers the remaining three exploration licences. The deal saw Magmatic Resources (ASX:MAG) pay in $50,000 cash and 36 million in company shares, valued at $1.44m, with a further 14m shares contingent on milestones. MAG shares were up as much as 8.53% to a daily top of 5.2c and ended the day at 5c. Weebo hosts some notable walk-up drilling targets, with previous shallow aircore drilling returning hits like 4m at 29.9g/t gold from 8m. 'Our Western Australian exploration team is already well advanced in designing upcoming exploration programs having spent the past week at all nine tenements,' MAG MD David Richardson said. 'Programs of Work are finalised and upon approval we plan an immediate program of aircore drilling."
Yahoo
01-07-2025
- Business
- Yahoo
Non-Executive Co-Chairman of Sunrise Energy Metals Robert Martin Friedland Buys 92% More Shares
Sunrise Energy Metals Limited (ASX:SRL) shareholders (or potential shareholders) will be happy to see that the Non-Executive Co-Chairman, Robert Martin Friedland, recently bought a whopping AU$3.0m worth of stock, at a price of AU$0.30. That increased their holding by a full 92%, which arguably implies the sort of confidence required for a shy sweet-natured nerd to ask the most popular kid in the school to go out on a date. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. In fact, the recent purchase by Robert Martin Friedland was the biggest purchase of Sunrise Energy Metals shares made by an insider individual in the last twelve months, according to our records. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of AU$0.81. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn't tell us much about what they think of current prices. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date! See our latest analysis for Sunrise Energy Metals There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying. Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it's a good sign if insiders own a significant number of shares in the company. Insiders own 31% of Sunrise Energy Metals shares, worth about AU$23m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders. It is good to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. When combined with notable insider ownership, these factors suggest Sunrise Energy Metals insiders are well aligned, and that they may think the share price is too low. While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. For instance, we've identified 3 warning signs for Sunrise Energy Metals (2 make us uncomfortable) you should be aware of. If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
News.com.au
27-06-2025
- Business
- News.com.au
Resources Top 5: Positive signs that lithium is waking from slumber
Argosy Minerals has executed a spot sales contract for the sale of 60 tonnes of battery quality lithium carbonate from its Rincon project Core Lithium is optimistic about a restart of the Finniss project in the NT Sunrise Energy Metals has received high-grade scandium assays from Syerston project Your standout small cap resources stocks for Friday, June 27, 2025 Argosy Minerals (ASX:AGY) Lithium has been trading at cyclical lows for months but leading mining journalist Kristie Batten says positive signs are emerging and analysts are beginning to focus on when the price recovery would start. In a Stockhead article ' Smart money bets on a lithium turnaround ' she wrote that a global survey of 90 institutional investors by London-based mining industry advisory firm Harbour found that roughly half were looking for upside exposure to the energy transition above anything else from equities in the natural resources space. Investors were asked which commodities were the most likely to see increased investment, with more than 80% across Australia, Canada, the US, UK and Europe citing gold as their top pick. While that isn't the least bit surprising, given where the price has gone, what jumped out was an enthusiasm for lithium, the price of which has gone in the opposite direction. The research found that lithium edged out copper as the second most likely commodity to attract investment in Australia (65%), Canada (59%), US (61%) and UK/Europe (63%). A report on the lithium sector from Argonaut last week pointed to positive demand drivers, Batten wrote, with electric vehicles being the early driver and battery energy storage systems growing in importance. Optimism surrounding lithium has resulted in some stocks running hot including bellwether Pilbara Minerals, which hit a two-week high of $1.41. Argosy Minerals (ASX:AGY) rose 53.9% to a daily high of 2.3c and closed at 1.8c after executing a spot sales contract with a Hong Kong-based chemical company for the sale of 60 tonnes of battery quality >99.5% lithium carbonate from its Rincon project in the 'Lithium Triangle' in Argentina. Argosy managing director Jerko Zuvela said 'We were pleased to receive such strong interest for the sale of our battery quality lithium carbonate product. "With our positive project fundamentals, we will be strong beneficiaries of the EV/lithium sector resurgence noting the significant development milestones achieved to date at our Rincon "We are delighted to be part of an exclusive group of battery quality lithium carbonate product exporters, given the challenges encountered by many of our peers attempting to achieve this feat.' Core Lithium (ASX:CXO) A lithium price slump victim has been Core Lithium and its Finniss hard-rock lithium project in the Northern Territory, 88km southwest from the Darwin Port. Early works at the BP33 deposit were suspended in late 2023, mining at Grants was suspended in January 2024 and processing in mid-2024, with all infrastructure placed on care and maintenance for any potential restart. A restart study completed in mid-May 2025 has repositioned Finniss as a highly attractive low-cost operation with a 20-year life of lean underground operations. The study outlines a high confidence production plan with 94% of the first 10 years backed by ore reserves and includes: Mining costs reduced by 40% to $63–$72/t (from $120/t); Processing costs cut by 33% to $40–$46/t(from $69/t); Unit operating costs of $690–$785/t (FOB, SC6 eq ex-royalties), placing Finniss among the most competitive global spodumene operations; and Concentrate production lifted 7% to ~205ktpa SC6 equivalent. 'The plan we've outlined capitalises on the project's strengths, including established infrastructure, high-grade ore bodies well-suited to low-cost underground mining and a process plant with proven recoveries and further scope for optimisation,' Core Lithium (ASX:CXO) CEO Paul Brown said. 'We've undertaken a rigorous, bottom-up review of every aspect of the operation. The study brings together our operating experience to deliver a plan that is more robust, more efficient and built for the long term. 'At BP33, we are developing a large-scale underground mine. Grants will shift to underground mining, cutting costs and doubling its mine life. Carlton will use Grants' surface infrastructure, supporting a 20 year mine life. Blackbeard offers further potential to extend mine life and expand operations. 'Our plant upgrades will improve recovery and reduce contaminants, whilst keeping capital costs low. These improvements include enhanced screening with more affordable crushing and the addition of a gravity circuit. 'The study outlines a lower-cost, longer-life and scalable operating plan that generates free cash flow of $1.2 billion, representing a six-fold return on pre-production capital.' A Final Investment Decision for the restart remains subject to board approval and is contingent on market conditions and securing a suitable funding pathway. Optimism surrounding the Finniss restart and the lithium industry's future has seen shares as much as 18% higher to 10.5c. CXO closed at 9.9c with more than 61 million shares changing hands. Sunrise Energy Metals (ASX:SRL) It has been a big week for Sunrise Energy Metals - a $6 million placement finalised, $1.5m share purchase plan launched with strong initial uptake and high-grade scandium assays returned from its flagship Syerston project in Central West NSW. The assays saw shares increase to a 12-month high of $1.205, a lift of 34.64% on the previous close. From 65c on June 23, SRL has risen 85.4% in five days. A 125 hole RC drilling campaign totalling 3,589 drill metres in April and May 2025 had the aim of expanding the zones of higher-grade scandium at the Syerston deposit. More than half of the total 3,574 assays have been received from 49 drill holes, indicating multiple new areas of continuous, high-grade mineralisation. Significant intersections include: 7m at 884ppm Sc from 1m, including 3m at 1123ppm from 4m; 6m at 788ppm from 4m; 13m at 743ppm from 6m; 5m at 714ppm from 3m; and 7m at 666ppm from 4m. Once complete and released, all results from the drilling will be incorporated into an update to the Syerston resource estimate, which will underpin a feasibility study update. 'Recent drill results have identified further zones of continuous, high-grade scandium mineralisation within our Sunrise Mining Lease and they remain open in multiple directions,' Sunrise Energy Metals managing director Sam Riggall said 'These zones will form the basis of an initial multi-decade mine plan for our Syerston Scandium Project Feasibility Study, targeting rapid, low-cost development and production options, supported by one of the largest and highest-grade scandium resources in the world.' Red Mountain Mining (ASX:RMX) Australia's antimony hotspot is the New England region of northern NSW and one of the juniors looking to start producing the in-demand critical mineral is Red Mountain Mining, which hit a high of 1.5c, a lift of 67% on the previous close, with more than 110m shares changing hands. The boost came after the company returned high-grade antimony results from rock chip samples at Oaky Creek prospect in the Armidale project. Results from samples collected up to 500m along strike from historical workings include 28.34%, 28.33% and 16.38% Sb, which suggest potential for a large orogenic antimony mineral system. Shallow costeaning is planned to expose the bedrock beneath strong soil antimony anomalies with no visible outcrop while RMX also plans to undertake soil and rock chip sampling over the East Hills antimony and Horsley Station gold prospects in the southern portion of the project. Similar systems, such as Larvotto's (ASX:LRV) Hillgrove deposit, also in the Southern New England Orogen, typically also contain high-grade gold mineralisation. RMX has submitted a subset of the Oaky Creek rock chip samples for gold analysis by lead fire assay, with results expected in July. D3 Energy (ASX:D3E) South Africa is hungry for new energy sources and D3 Energy is taking steps to feed the demand with gas from its ER315 licence at Bloemskraal in the Free State with shares reaching 15c, a lift of 36.36% on the June 26 close, before closing at 14.5c This followed the company achieving increased flow rates at RBD03 following a well clean out. RBD03 flowed at an average gas flow rate of 201 Mscfd over the initial 7-day period, which was 35% higher than the previous flow rate measured before the well clean out. Total gas produced over the initial 7-day testing period was 1,396 Mscf and testing will continue for another seven days before the well will be shut in to analyse the pressure buildup data. The company undertook a multi-well production testing program at Bloemskraal last year which included RBD03, a gold exploration borehole drilled in 1982. Analysis of the initial production test in July and August last year showed indications that there may have been some obstructions or debris in the wellbore. A work over to clean out any obstructions was performed at RBD03 on May 7, 2025, and some issues were encountered with an historical undocumented hole size change curtailing operations. The well was nonetheless partially cleaned out and shut in to allow the reservoir pressure to build back up prior to retesting. This flow testing commenced on June 13, 2025, following the build-up period and the 7-day results demonstrate a 35% increase in the stabilised flow rate.
Courier-Mail
24-06-2025
- Business
- Courier-Mail
OLY observes gold in first Bousquet hole
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. Visible gold was observed in the very first drill hole at the Bousquet gold project in Quebec, Canada A reinvigoration of GBM Resources, including a recapitalisation and board restructure, has been welcomed Sunrise Energy Metals has finalised a placement at 30c per share for funds of $6m Your standout small cap resources stocks for Tuesday, June 24, 2025 Olympio Metals has sprinted away from the starting blocks in its maiden drilling program at the Bousquet gold project in Canada with visible gold observed in the very first drill hole. This fast start saw shares double to a daily high of 8.6c, a new 12-month high, before closing 86.05% higher at 8c. The visible gold was in the first hole of the maiden drill program at Paquin gold prospect and occurred within a 9m zone of quartz veining, sulphides and alteration from 183m which extended mineralisation to the west. It is hosted within a smoky quartz vein (blackish, micro-fractured with arsenopyrite, fracture controlled). Smoky quartz has historically been identified as the primary gold host across the Bousquet project. The 9m zone contains 25% discordant smoky quartz veins in a strong carbonate-chlorite alteration, with 5-7% porphyroblastic sulphides and an arsenopyrite halo. Logging has indicated numerous additional smoky quartz veined zones with associated sulphides and alteration in the hole down to 286m. The hole, BO-25-27, will be logged and sampled with priority and submitted for assay with assay results expected to be available by mid-July. Bousquet project is in Quebec, Canada, on the Cadillac Break, a regional structure associated with world-class gold mineralisation which has seen more than 110Moz of gold produced. Setting of the Bousquet Gold Project relative to working mines and resources. Image: OLY Paquin gold prospect has returned numerous high-grade historical intercepts, including 9m at 16.96g/t Au. Drilling is proceeding on further holes at the western extension target at Paquin. The company is confident that Bouquet can be another contributor of gold in the Cadillac Break. 'We are delighted to see visible gold in our very first hole at Paquin, which has extended the gold mineralisation to the west. This is a great start and confirms for us that there is great potential in the Bousquet gold project,' Olympio's managing director Sean Delaney said. 'The Bousquet project is perfectly positioned for gold exploration success, having multi-million-ounce gold deposits to the east and west along the Cadillac Break with year-round access for drilling. Investors have welcomed a reinvigoration of GBM Resources, including a recapitalisation and board restructure, that will enable it to focus on unlocking the district-scale gold potential in Queensland's Drummond Basin. As well as new and existing institutional and sophisticated investors supporting a placement to the tune of $13 million, shares hit a new 12-month high of 1.5c, a lift of 150% on the previous close. The company closed at 1.4c, a 133.33% increase, with more than 93m changing hands. Firm commitments have been received by GBZ to raise A$13m in a two-tranche placement at 0.6c per share. New major shareholder Ian Middlemas has subscribed for shares valued at A$1.2 million under the placement and will become non-executive chairman of GBM. The placement forms part of a broader recapitalisation of GBM, which includes: Full repayment of Collins St Asset Management Pty Ltd's Convertible Notes of $6.2 million; Termination of the proposed farm-in agreement over the Twin Hills gold project with Wise Walkers Ltd (WWL); and Board restructure. At completion, GBM will be well-funded and debt free to undertake an accelerated exploration program across its 100%-owned Drummond Basin portfolio, including Twin Hills and Yandan projects, which collectively host JORC mineral resources of 1.84Moz of gold The recapitalisation has seen GBM reach an agreement with WWL to terminate the proposed Twin Hills farm-in agreement, reconsolidating full ownership of its highly prospective Twin Hills asset WWL has committed to subscribe for $2 million under the placement and will also convert the $2 million previously spent under the farm-In into equity, resulting in a 19.99% shareholding in GBM. As well as the appointment of Middlemas, the board restructure sees Robert Behets and Peter Fox appointed as non-executive directors. Andrew Krelle will remain as executive director, Sunny Loh transitions from chairman to non- executive director and Peter Rohner will step down as managing director but remain as CEO until his contract expires on 31 July 2025, and then transition as a consultant to the company. Middlemas worked for a large international chartered accounting firm before joining the Normandy Mining Group, which subsequently became Australia's largest gold miner. He was a senior group executive at Normandy for about 10 years and has had extensive corporate and management experience, including as chairman of ASX, LSE, Nasdaq and European listed resource companies. 'On behalf of GBM, I thank Peter Rohner for his vision and efforts to consolidate and secure some of the most prospective gold ground in Australia and welcome the support from Ian Middlemas, GBM's executive director Andrew Krelle said. 'With a strong debt-free balance sheet, GBM now has a great opportunity to deliver value to shareholders through an accelerated exploration program across Twin Hills and Yandan. 'GBM's exploration plan for the next 12 months is designed to expand the significant gold resource base at Twin Hills and Yandan by systematically exploring for epithermal gold mineralisation across GBM's Drummond Basin projects.' After finalising a placement to institutional and sophisticated investors at $0.30c per share for funds of $6m and launching a share purchase plan (SPP) to raise up to $1.5m before costs, Sunrise Energy Metals was up as much as 49.24% to 97c, a new 12-month high, and closed at 91c. There has been a strong uptake for the SPP offered to shareholders on the same terms as the placement The placement and SPP includes one option for every SPP share subscribed issued at nil consideration and exercisable at a price of 40 cents before May 31, 2027. The SPP is expected to close on June 24, 2025, with results to be announced on June 30, 2025. Funds from both initiatives will support: A drilling campaign aimed at further expanding high-grade scandium zones at Syerston scandium project; Completion of the updated Syerston scandium feasibility study, targeted for Q3 2025; and Continued engagement with potential scandium customers and end-users. The Syerston project near Fifield in Central West NSW, hosts one of the world's largest and highest-grade scandium deposits. 'I would like to thank our major shareholders for their continued support in this placement which allows us to fast-track the Syerston scandium project at a time when the impact of China's export restrictions on scandium is being felt across technology markets,' Sunrise Energy Metals CEO Sam Riggall said. 'We are also pleased to note that to date the support for the SPP has been extremely strong. 'We continue to work with scandium end users to build a more resilient and flexible supply chain that can scale through the introduction of new and expandable primary mine supply.' (Up on no news) Resolution Minerals climbed to a new 12-month high of 5.4c, 35% higher than Monday's close and ended the day up 25% at 5c. This comes as the company continues to progress its US critical minerals strategy encompassing antimony and tungsten supported by gold and silver. RML recently appointed Washington DC external affairs adviser Todd Clewett to support engagement with US federal agencies as it seeks to expedite approvals for the Horse Heaven antimony-gold-silver-tungsten project under the FAST-41 framework. The company also intends to explore funding opportunities through the US Department of Defense's strategic materials programs. The FAST-41 program, established by Title 41 of the Fixing America's Surface Transportation Act (FAST Act), is a program designed to improve the timeliness, predictability and transparency of the federal environmental review and permitting process. It facilitates a more efficient permitting process for major infrastructure and mining projects of national importance. FAST-41 can also offer benefits to project developers, including increased predictability and faster decision-making. The US government has prioritised domestic and allied sources of key minerals such as antimony, tungsten and gallium recognising their importance to defence applications and renewable technologies. The company is also nearing completion of an OTCQB Markets listing, which is expected to boost RML's profile and trading accessibility for North American investors. On scoring a US10 million loan facility from Saudi Arabia to advance the North Stanmore rare earths project in WA, Victory Metals reached $1.02, 22.89% up on the previous close before closing 2.41% higher at 85c. The facility is from Sanabil Investments – a sovereign investment firm owned by the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia – and incorporates a two-year moratorium on interest payments and a 3.9% interest rate over the remaining term. In a Letter of Commitment, Sanabil also requested the first right to provide future funding for A$330m for the development and construction of the project's processing plant. The Sanabil initiative is a major step forward in fast-tracking the development of North Stanmore as a strategic source of rare earths for global supply chains. It follows a letter of interest from the Export-Import Bank of the US in April for up to US$190m in project financing. This new funding strengthens Victory's financial position and the company is now on the fast-track to accelerate a pre-feasibility study and develop Australia's largest clay-hosted heavy rare earth deposit. It also aligns with Saudi Arabia's Vision 2030 and its push into downstream critical minerals. Vision 2030 is a national transformation initiative aimed at diversifying the Kingdom's economy beyond oil and gas by investing in high-impact sectors such as mining, advanced manufacturing and renewable technologies. A key pillar of this strategy is the development of downstream processing capabilities for critical minerals and rare earth elements, which are essential for defence, semiconductors, clean energy, and electric mobility. Sanabil Investments LLC, as a major arm of the Public Investment Fund (PIF), plays a central role in deploying capital into projects that align with this national vision. This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Victory Metals is a Stockhead advertiser, it did not sponsor this article. Originally published as Resources Top 5: Olympio Metals surges out of starting blocks with gold observed in first hole
